Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) should be "abolished" rather than reformed, Rep....

|About: Freddie Mac (FMCC)|By:, SA News Editor

Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) should be "abolished" rather than reformed, Rep. Barney Frank says. "No more hybrid private-public," referring to the outlook for the government-sponsored enterprises. "If we want to subsidize housing, then we could do it upfront and let the budget be clear about that."